Ocean Protocol, Helium and Chainlink post monthly gains while Bitcoin price consolidates

June 9, 2022 Coin Telegraph

Roadmap and protocol upgrades are a few of the factors behind the month-long rally in LINK, OCEAN and HNT.

Positive price movements during bear markets are noteworthy primarily because they can help identify projects that have a good chance of surviving until the next bull cycle .

Generally, price action in June has been stagnant for a majority of the crypto market because traders are nervous about Bitcoin's (BTC) oscillation around the $30,000 support level, but there have been a few strong performers.

*LINK/USDT vs. HNT/USDT vs. OCEAN/USDT 4-hour chart. Source: TradingView*

Data from Cointelegraph Markets Pro and TradingView shows that three of the biggest gainers in the month of June have been Chainlink (LINK), Ocean Protocol (OCEAN) and Helium (HNT).

Chainlink introduces staking

The Chainlink protocol is the most widely adopted oracle network in the cryptocurrency ecosystem which allows blockchains to securely interact with external data feeds for the proper functioning of smart contracts.

Earlier this week, the project revealed a roadmap for the first time and indicated that LINK staking would launch soon. The NewsQuakes™ alert system from Cointelegraph Markets Pro managed to capture the staking announcement for LINK on June 7, prior to the recent price rise.

*VORTECS™ Score (green) vs. LINK price. Source:* *Cointelegraph Markets Pro*

As seen in the chart above, following the NewsQuakes™ alert for LINK which was registered at noon on June 7, the price of LINK proceeded to increase by 29.55% over the next two days.

Ocean Protocol introduces data NFTs

Ocean Protocol's native OCEAN token also was a strong performer this week and data from Cointelegraph Markets Pro and TradingView shows that since hitting a low of $0.1965 on June 3, the price of OCEAN has rallied 64.53% to hit a daily high at $0.3233 on June 9.

*OCEAN/USDT 4-hour chart. Source: TradingView*

The climbing price of OCEAN comes after the release of the Ocean ONDA v4 data marketplace which debuted the release of data NFTs that can be used to model the copyright or exclusive license for a data asset.

Along with the introduction of data NFTS, the protocol has also introduced Ocean data framing which enables token holders to stake their OCEAN tokens and earn up to 125% APY.

Helium holders vote to support new networks

Helium protocol is a 5G Internet-of-Things-focused project supporting low-powered wireless devices to communicate with each other and send data across its network of nodes.

Data from Cointelegraph Markets Pro and TradingView shows that since hitting a low of $6.35 on May 29, the price of HNT has surged 79.14% to hit a daily high of $12.28 on June 9 as its 24-hour trading volume spiked 249% to $126.7 million.

*HNT/USDT 4-hour chart. Source: TradingView*

HNT's breakout occurred as the Helium community voted on HIP-51, a proposal that covered the economic and technical constructions needed to scale the Helium Network to support new users, devices and different types of networks including cellular, VPN, WiFi and LPWAN.

Voters ultimately approved the proposal on June 8, with 96.94% of voters approving the transition to making Helium a “network of networks.”

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Markets are weak, but ALGO, FXS and HNT book a 20%+ rally — Here’s why

May 3, 2022 Coin Telegraph

Algorand

Algorand, Frax Share and Helium staged brief double-digit rallies in an otherwise stagnant market, thanks to a major partnership and new project developments.

Large-cap cryptocurrency continue to slump as investors await comments from the Federal Open Markets Committee regarding the exact size of the next interest rate hike.

There are, however, a few bright spots in the market and select altcoins managed to post double-digit gains in trading on Tuesday thanks to a big-time partnership announcement and cross-protocol collaborations that led to a spike in demand.

Data from Cointelegraph Markets Pro and TradingView shows that three of the biggest gainers over the past 24-hours were Algorand (ALGO), Frax Share (FXS) and Helium (HNT).

Algorand

The pure proof-of-stake blockchain network had perhaps one of the most notable partnership deals for a crypto project in recent months after this week's announcement that it had been selected as the official blockchain of FIFA, the globally recognized international governing body for football.

BREAKING: @FIFAcom has announced #Algorand will become the official blockchain of FIFA, empowering the global football community with cutting-edge, sustainable technology. Read more https://t.co/LTTUqGNLNA @FIFAWorldCup #FIFAWorldCup pic.twitter.com/LuEFTY3WK6
— Algorand (@Algorand) May 2, 2022

ALGO was trading at a price of $0.58 prior to the announcement and the price proceeded to rally 28% to a daily high of $0.743 as news of the collaboration spread across the crypto ecosystem.

*ALGO/USDT 4-hour chart. Source: TradingView*

At the time of writing, ALGO is trading at $0.673, representing a 16% gain on the 24-hour chart.

In addition to the FIFA announcement, Algorand has been expanding its ecosystem by launching decentralized finance and nonfungible token protocols on the network. The project also launched a blockchain-based card game called Aegir Tactics and a real estate tokenization platform called Vesta Equity.

Frax Share

Frax Share, the native token of the Frax protocol, is the first fractional-algorithmic stablecoin project to launch in the cryptocurrency ecosystem and today the asset staged a 23% rally despite the wider market being in a downtrend.

FXS price staged a 23% rally from $21.89 on May 2 to $26.94 on May 3 after a 200% increase in its 24-hour trading volume.

*FXS/USDT 4-hour chart. Source: TradingView*

The sudden turnaround in FXS price comes as the popularity of 4pool, a new Curve Finance stablecoin liquidity pool that was developed by Terra, began gaining momentum as it deploys on Fantom, Arbitrum and other networks.

4pool is composed of the TerraUSD (UST), FRAX, USD Coin (USDC) and Tether (USDT) stablecoins and it is designed to help concentrate stablecoin liquidity across 4pools located on every major chain through the Curve protocol.

Helium

Helium is a decentralized blockchain network for Internet of Things (IoT) devices and it is powered by a global system of low-power nodes run by miners.

VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for HNT on May 1, prior to the recent price rise.

The VORTECS™ Score, exclusive to Cointelegraph, is an algorithmic comparison of historical and current market conditions derived from a combination of data points including market sentiment, trading volume, recent price movements and Twitter activity.

*VORTECS™ Score (green) vs. HNT price. Source:* *Cointelegraph Markets Pro*

As seen in the chart above, the VORTECS™ Score for HNT spiked to a high of 79 on May 1, around 13 hours before the price increased 20.35% over the next day.

The gains for HNT followed a developer announcement detailing plans to implement Helium 5G data transfer rewards. This will enable 5G hotspot operators to earn HNT when a compatible 5G device sends data over the network by connecting with the users' hotspot.

MXC’s 200% gain hints that LoRaWAN IOT mining projects could rally in 2022

January 19, 2022 Coin Telegraph

Altcoin Watch

A growing partnership network, the ability to mine multiple cryptocurrencies simultaneously and renewed interest in blockchain-focused IOT technology back MXC’s 200% rally.

Cryptocurrency mining has become a hot topic of conversation over the past couple of years due to its lucrative nature and the impact the industry has on the environment.

The emergence of Web3 and the increased presence of Internet of Things (IoT) devices has led to a new class of low-cost mining protocols with low-power network technology. These include LPWAN or LoRaWAN which are designed to transmit low bit rate data over long distances.

One such protocol that has been gaining traction in recent months is MXC, a Web3 infrastructure protocol designed to provide geolocation-based LPWAN coverage to IoT devices around the world

Data from Cointelegraph Markets Pro and TradingView shows that since hitting a low of $0.046 on Jan. 1, the price of MXC has seen a 200% rally to a new all-time high of $0.139 on Jan. 19.

*MXC/USDT 1-day chart. Source: TradingView*

Three factors adding to MXC's building momentum include the earning capability of the MXC miners that can mine multiple cryptocurrencies simultaneously, the introduction of one-week shipping for new mining devices and an expanding, global ecosystem of partners and independent mining nodes.

Mining diversity could be an advantage

The IoT mining sector has seen many new entrants become established in recent years with projects like Helium (HNT) and Nitro Network (NCASH) offering LoRaWAN based networks that transfer data in exchange for the native HNT and NCASH tokens.

MXC has chosen a different route that utilizes a low-power wide-area network (LPWAN) to offer coverage for IoT devices that can also mine multiple cryptocurrencies, including Bitcoin (BTC), MXC and DataHighway (DHX) simultaneously.

The MXC network uses its MatchX M2 Pro LPWAN miner, which is available for purchase on their website at a price of € 2,499 or on Amazon for a price of $3,299, alongside the DataDash app, which allows users to manage its miners and rewards.

In terms of devices capable of mining Bitcoin, the M2 Pro miner requires 5 watts of power as compared to the 3,250 watts required by the Bitmain "Antminer S19 Pro.” This makes the M2 better suited for individuals that don’t have a lot of funds to invest in a hefty mining operation.

According to one user's self-report, the M2 Pro miners have been earning a yield of $8 to $10 dollars per day and estimates that it will take a total of 8 months to recoup the original investment.

Easy access to M2 Pro

Another reason for the building momentum for MXC has been the introduction of one-week shipping for new M2 Pro orders.

Shipping Announcement

Shipping your M2 Pro takes only 7 days!

Applies for everyone on the globe

Get your M2 Pro here: https://t.co/8WiTQWqxi2 pic.twitter.com/oArEmi65AV
— MatchX (@matchx_iot) January 19, 2022

For LPWAN networks, achieving widespread coverage is key to the overall health and long-term viability of the network. Having an easy way for interested parties to obtain mining equipment helps to increase the rate of growth.

Delays in miner shipments have been an issue for other networks, including Helium, which has led to hard feelings and some cancellations as users lament the lost-mining time and funds that could have been put to more productive use elsewhere.

As a result of the access interested parties have in obtaining the M2 Pro, the MXC network has now reached 18,186 nodes worldwide.

New partners and the launch of F-NFTs

In addition to an expanding network, MXC has new partner projects joining its network and there are plans to integrate "functional nonfungible tokens" or F-NFTs.

The protocol has partnered with Matcha and the team is currently in talks with Huobi exchange to create promotional offers for international users.

MXC has also revealed a new partnership with Random Network which will provide the community with a dashboard for the data that MXC distributes from its global network of M2 Pro miners.

MXC is launching Functional #NFTs, also known as F-NFTs!

These will change how we grow the global #DataRepublic, enhancing the use of the network + viewable directly on the DataDash app.

More here: https://t.co/BxRoZgUVMF pic.twitter.com/k0eIBBLQMD
— MXC Foundation (@MXCfoundation) January 13, 2022

On top of collaborating with other entities, MXC recently unveiled plans to launch F-NFTs in an effort to bring “hardware to the metaverse” and expand the community and functionality of the “MXC Data Republic.”

IEEE Blockchain Identity of Things standardization working group kicks off

December 14, 2021 Coin Telegraph

Blockchain

Major players from technology and crypto ecosystems participate in a new group to standardize blockchain.

Six worldwide corporations have banded together to start the IEEE blockchain Identity of Things standardization.

According to IEEE Chair of the Identity of Things Working Group Dr. Xinxin Fan, researchers from Lockheed Martin, Ericsson, Lenovo, Huawei, Bosch, IoTeX and China Academy of Information and Communications Technology are developing the global standards for blockchain-based decentralized identities in an effort that commenced two years ago.

After two years of research, the six major global businesses have provided the proof of concept for blockchain-based decentralized identification (DID) for IoT devices, which Dr. Fan started in 2019 with the World Wide Web Consortium (W3C). IEEE is a non-profit organization that has created standards for the general needs of technology related to wireless devices, networks, and services.

According to the press release, blockchain interoperability is crucial for the success of the Internet of Things (IoT), people, and enterprises. It is possible to advance global trade, economic development, and local communities around the world by eliminating technological hurdles and enabling diverse entities to communicate with worldwide standards.

"IoT, decentralized identifiers, verifiable credentials, blockchain are technologies accelerating fast and bonding together," said Giovanni Franzese, the head of blockchain business development at Ericsson. "It's a huge privilege to contribute to the IEEE P2958 standards development, bringing the market perspectives, the Ericsson knowledge and participate in a cooperative cross-industry group to make the standards effective and fostering for adoptions with our clients."

Dr. Fan leads the working group intending to ensure that the entire $12.6 trillion potential value of the IoT in 2030, as predicted by McKinsey, can be unlocked by defining a global DID standard for people and machines to interoperate.

Altcoin Roundup: 3 Proof-of-work protocols focused on building Web 3.0

November 12, 2021 Coin Telegraph

ASIC

Proof-of-work models are evolving to support the growth of Web 3.0. Here’s 3 projects that offer miners substantial rewards for supporting the network.

The proof-of-work (PoW) consensus model is the mechanism that kicked off the revolution that launched Bitcoin (BTC) in 2009 and it was the model of choice behind many of the popular projects in the early fledgling years of the crypto ecosystem.

As time progressed, other consensus models like proof-of-stake (PoS) rose in popularity, especially as the cost of running mining rigs, the constant need to update equipment and environmental concerns led to the PoW model falling out of favor with many.

As a result, projects looking to employ a proof-of-work model have had to adapt to stay aligned with the demands of the wider market. This has led to the emergence of projects that offer a more environmentally and economically friendly approach to PoW, while also aiming to build Web 3.0.

Let’s take a look at some of the projects that allow people to contribute their resources toward securing the network and earn a yield in the process.

Helium

Helium is a decentralized blockchain-powered network for the Internet of Things (IoT) devices that utilizes a global network of low-energy wireless “hotspots” that broadcast data via radio waves to be recorded on its blockchain.

The network uses a new work algorithm that has been dubbed “proof-of-coverage” to validate that hotspots are providing legitimate wireless coverage and that miners receive the platform’s native HNT token for helping to provide coverage for the network.

The Helium network saw tremendous growth throughout 2021. Currently, there are more than 309,000 nodes in operation.

*Helium network statistics. Source: Helium*

More recently, the Helium network expanded its capabilities by adding support for 5G wireless capabilities which included the launch of a new line of miners capable of transmitting the 5G signal.

On Oct. 26, Helium announced that it had partnered with the satellite television company Dish Network, making Dish the first major carrier to join the Helium network and offer its subscribers the opportunity to run Helium nodes in exchange for HNT tokens.

*HNT/USDT 1-day chart. Source: TradingView*

Shortly after these developments, HNT price rallied to a new all-time high at $53.11 on Nov. 9.

Kadena

Kadena (KDA) is a scalable PoW layer-one blockchain protocol that claims to be capable of processing up to 480,000 transactions per second (TPS) thanks to the use of braided chains.

Unlike the top PoW cryptocurrency Bitcoin, Kadena also offers smart contract capabilities similar to those found on Ethereum and features its own smart contract programming language called Pact.

Being smart contract capable means that the Kadena network is capable of hosting decentralized finance (DeFi) and nonfungible token (NFT) protocols, as well as a host of other specialized projects from stablecoins to payment processors.

Some of the goals of the project have been to address the major issues plaguing the Ethereum network such as high transaction costs and network congestion, and claims to offer marginal transaction fees for consumers while also introducing a “crypto gas station” feature that lets businesses create accounts that exist to fund gas payments on behalf of its user base when certain conditions are met.

Kadena utilizes the Blake (2s-Kadena) algorithm as its consensus model which requires native ASIC miners and cannot be mined using GPUs or CPUs.

Recently, KDA launched a wrapped version of its token called wKDA that is capable of interacting with all Ethereum Virtual Machine- (EVM-) compatible networks and their associated DeFi protocols.

In the future, the team behind Kadena also has plans to add cross-chain support for other popular blockchain networks including Terra, Polkadot, Celo and Cosmos.

*KDA/USD 4-hour chart. Source:* *TradingView*

Data from Cointelegraph Markets Pro and TradingView shows that as a result of the recent developments, the price of KDA had surged 1,280% from a low of $2.05 on Oct. 17 to a new all-time high at $28.44 on Nov. 11.

Flux

Flux (FLUX) is a native GPU mineable PoW protocol that is focused on scalable decentralized cloud infrastructure for Web 3.0 applications.

According to the project, the Flux ecosystem is comprised of a suite of decentralized computing services and blockchain-as-a-service solutions which offer an Amazon Web Services-like development environment, as well as the FluxOS second-layer operating system that is capable of running “any hardened dockerized application.”

The Flux network uses the ZelHash algorithm, which is a GPU minable implementation of Equihash 125,4 and can be mined through a Flux community pool or on a variety of third-party pools created by teams that support the Flux mining ecosystem.

The block time on the Flux network is two minutes and the current block reward is 75 Flux, with 50% going to node operators and 50% going to miners.

On Nov. 9, the project introduced “Light Nodes,” which enable Flux nodes to be managed using light wallets so that operators can start and monitor node metrics from any device capable of running the FluxNodes app.

*FLUX/USD 4-hour chart. Source:* *TradingView*

Data from Cointelegraph Markets Pro and TradingView shows that since Oct. 24 when it was revealed that Apple Pay would be integrated with the Flux network’s Zelcore wallet, the price of FLUX has surged 802% from $0.33 to a new all-time high at $2.96 on Nov. 12.

While the PoW model of consensus is no longer the dominant model used by major projects in the crypto ecosystem, these three examples show that it still has a lot to offer because the new platforms are environmentally friendly and economically sustainable.

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